celeb news Taylor Swift boosting the economy a lie? Journalist fact checks...

[Lovett]

 

 

It has been widely reported over the last few months that Taylor Swift's Eras Tour has notably boosted the US economy, based on an article from the Federal Reserve. Journalist Noah Pransky, an NBC correspondent, investigated and found the articles reporting this weren't exactly true...

 

The full thread can be found via this tweet.

 

Did Taylor's PR team purposefully spread these news stories to bolster attention to her tour? Let's discuss.

[bjorn]

Noah is a B stan is known in the community 

[YellowRibbon]

Would Noah P lie???

 

If you believe a journalist over actual economists that have been asked... I don't know what to tell you

[vale9001]

Always thought this honestly. Only beyoncè stans sleep on hotels, so i believe the 5B boost of Beyoncè tour  but i don't believe 5B boost for the eras. 

Edited September 1, 2023 by vale9001

[Dear Reader]

Hopefully he investigates this one next. 

 

All jokes aside, none of their teams actually CLAIMED these numbers. 

[Kyoto]

[Johnny Jacobs]

Oh lord here we go again. 

 

[Taylor fanboy]

So all other economic boosts are all lies then too? e.g. Barbie, Beyoncé

 

Good luck America! 

[Axelios]

She is the biggest artist in the world by far. Media are all trying to use her name for attention. I wouldn't be surprised if Beyonce PR team are paying for all the comparison to try to put both tours at the same level. They are pretty smart.

[Delusional]

The thread of 11 tweets trying to make some silly point. What is his goal? Taylor has not promoted this herself. All just for social media engagement, just like the articles about Taylor boosting the economy because she’s the biggest name in the world right now.

[LiamVillain]

she's over

[Klein]

So did the people attending The Eras Tour booked hotel, went to the restaurant, and use various transportation method or not? 

 

How does that money "leave" the economy exactly? I've seen his thread and I'm perplexed. 

 

If people spend on average $1300, that's still $1300 that went to the hotels, restaurants, local businesses, train companies, airplane companies etc... 

 

I'm not an economist myself but his thread is very very light on 1) proofs and 2) explanations, but unsurprisingly full of clickbait. 

 

I don't know if it indeed boosted the economy by $5B. But if the general method to determine the $5B figure was an average spending multiplied by the number of people attending, then for me the final number is still more or less what people spent, and therefore boosted the economy. Idk. 

Edited September 1, 2023 by Klein

[bluebirdsforever]

 

[Gui Blackout]

I think I'll trust the report of the Federal Reserve, CNN, The New York Times, Bloomberg, etc over a Twitter thread

 

But if that's what certain stans need to hold on to in order to cope, sure

 

 

 

[Badgalbriel]

Oh yeah sure. The millions of people that went to the tour didn't travel, didn't stay5in hotels, didn't eat out at local restaurants. 

 

Would a Beyoncé stan lie about Taylor Swift? 

[sunbathinganimal]

you're so messy for this

[Kimbra]

Why are y'all acting brand new? It's just PR.

[Feanor]

1 minute ago, Gui Blackout said:

I think I'll trust the report of the Federal Reserve, CNN, The New York Times, Bloomberg, etc over a Twitter thread

 

But if that's what certain stans need to hold on to in order to cope, sure

And the fun part is, the OP had no issue celebrating the same economic impact numbers in this thread when Beyoncé was involved:

 

 

We love a showcase of good old hypocrisy. 

 

[Lemon]

How are not people tired of doing this when we have official sources supporting the contrary? 

[cat1867]

Taylor is providing a a nice but short term boost in the cities she tours. Saying she isn't having an impact is delusional.

 

But yes, the impact is being exaggerated by people trying to farm clicks. Journalist distorted the  Philly Fed report where they mentioned Taylor has a factor but only one factor in the surge in hotel biz. But journalists desperate for clicks credited the full impact on her. 

 

Her tour dates really increase hotel stays and increases demand for local businesses that serve tourists. But it's fundamentally one great weekend for each city and won't support places for an entire year.

 

Same is true for a less extent for Beyonce. Beyonce didn't singehandly increase inflation in Sweden (some journalist blamed her for that ) even her tour was great for local economies. 

 

Lastly, the current environment is very ripe for artists to set record touring numbers as people really want to spend money on concerts after being coped for covid. It's no coincide that Elton John, Taylor, Beyonce, Harry Styles, and Coldplay all have record breaking tours recently.

Edited September 1, 2023 by cat1867

[Bubble Tea]

Ddd Taylor's over I fear.

[ForgottenSoul]

19 minutes ago, vale9001 said:

Always thought this honestly. Only beyoncè stans sleep on hotels, so i believe the 5B boost of Beyoncè tour  but i don't believe 5B boost for the eras. 

So you believe Beyonce tour even though her tour is you know not as big? 

[Gui Blackout]

2 minutes ago, Feanor said:

And the fun part is, the OP had no issue celebrating the same economic impact numbers in this thread when Beyoncé was involved:

 

 

We love a showcase of good old hypocrisy. 

 

Interesting!

 

Did Beyonce's PR team purposefully spread these news stories to bolster attention to her tour? Let's discuss.

 

 

[Fleahive]

Until that economy boost money goes in my pocket she ain’t did ****!

[liam13]

Just now, ForgottenSoul said:

So you believe Beyonce tour even though her tour is you know not as big? 

theyre being sarcastic

 

OT: smoke and mirror!!! lock her up